Palo Azul is a producing conventional oil field located onshore Ecuador and is operated by Petroamazonas EP. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block Block 18 (Palo Azul). Buy the profile here.
Field participation details
The field is owned by EP Petroecuador.
Production from Palo Azul
The Palo Azul conventional oil field recovered 69.53% of its total recoverable reserves, with peak production in 2006. The peak production was approximately 33.69 thousand bpd of crude oil and condensate and 13.00 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2056. The field currently accounts for approximately 2% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 57.27 Mmboe, comprised of 55.62 Mmbbl of crude oil & condensate and 9.90 bcf of natural gas reserves. Palo Azul conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.
About Petroamazonas EP
Petroamazonas EP (Petroamazonas) is a state-owned oil and gas company which provides exploration and production of hydrocarbons and related substances. The company operates upstream oil and gas operations which include assets management, planning and management control, financial management, maintenance, information technology, operations and drilling, among others. It also provides programs and services such as data mangement, plans and manuals, safety health, software and environment, community relations, and drilling services. Petroamazonas explores and produces light, medium, heavy and extra heavy crude oil, as well as natural gas in Ecuador. Petroamazonas is headquartered in Quito, Pichincha, Ecuador.
For more details on the Palo Azul Conventional Oil Field, buy the profile here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
